L&T LTTS

Engineering services player L&T Technology Services (LTTS) on Wednesday reported a 1.3 per cent rise in the September quarter net profit at Rs 319.6 crore, as profit margins narrowed. The company, an arm of engineering, procurement and construction major Larsen & Toubro, had reported a net profit of Rs 315.4 crore in the year-ago period while the was Rs 313.6 crore in the preceding June quarter. Its revenues grew 7.8 per cent to Rs 2,572.9 crore in the reporting quarter, helped by an over 24 per cent growth in the European market on demand from the automobile sector and sustainability-focused solutions. LTTS Managing Director and Chief Executive Amit Chadha said it is aiming for revenues to grow between 8-10 per cent in FY25, and maintaining its guidance on hitting the USD 2 billion yearly revenue in medium-term mark. Higher spends on sales and technology led to a narrowing of the operating profit margin to 15.1 per cent during the reporting quarter, as against 17.1 per cent ..

5-year partnership also involves Indian company providing engineering services to Forvia

Programme will set up 'cybersecurity and cybercrime prevention centre' for public safety

Stocks to watch on Wednesday, October 18, 2023: Bajaj Auto, Bandhan Bank, IndusInd Bank, LTIMindtree and Wipro to be in focus ahead of Q2 results today.

In Q4FY23, the company won a $40-million deal and three $10-million-plus TCV deals

LTTS said that it has agreed to acquire the Smart World & Communications business (SWC) of its parent company Larsen & Toubro (L&T) by way of slump sale for Rs 800 crore.

L&T Technology Services Limited announced on Friday it is collaborating with Qualcomm Technologies, Inc. to deploy end-to-end solutions for the global 5G private network industry utilising their combined core expertise in the hi-tech & telecommunication domain. LTTS and Qualcomm will bring together core competencies in telecommunication solutions and services for the benefit of end-customers in the manufacturing and warehousing/ logistics sector, an LTTS statement said. As part of the proposed collaboration, Qualcomm will engage Private Networks RAN Automation technology for the automation and management of small cells along with pre-integrated PN solutions. LTTS will facilitate end-to-end system integration, design, and implementation of use cases, provide engineering consulting, and deployment services along with edge-to-cloud orchestration and management. In line with the terms of the collaboration, LTTS will establish an engineering centre of excellence in Santa Clara with

In a leg-up to the Indo-US strategic partnership, US navy ship Charles Drew on Sunday arrived at Larsen and Toubro shipyard at Kattupalli here for undergoing repairs and allied services. According to an official release, the US Navy had awarded a contract to the L&T Shipyard for undertaking maintenance of the ship. The event signifies the capabilities of the country's shipyards in the global ship repairing market. Indian shipyards offer wide ranging and cost-effective ship repair and maintenance services, using advanced maritime technology platforms. United States' Military Sealift Command's Lewis and Clark-class dry cargo ship USNS Charles Drew provides critical support to the U.S. Navy fleet operating in the Indo-Pacific Region, it said. Defence Secretary Ajay Kumar, Vice Chief of Naval Staff Vice Admiral SN Ghormade, Flag Officer Commanding Tamil Nadu & Puducherry Naval Area Rear Admiral S Venkat Raman and other senior officials of Ministry of Defence visited the shipyard .

Margins were better managed despite a higher attrition of 23.2% in Q1, up from 20.4% in Q4FY22

Stocks like TCS and LTTS may explore uncharted territories in current market volatility

The project with LTTS will result in transformation of the customer's operations into a managed services model